1
Li stock is forming a flag and pole pattern on the charts.
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Buyers are trying to hold the gains and attempt a rebound.
Li Auto Inc. (LI Stock) price trades at a make-or-break level, falling more than 3%, indicating selling pressure in the last trading session. Moreover, LI stock price has dragged toward the lower trendline and may face a breakdown toward the 200-day EMA swing near $30 if it slips below $35.
Conversely, if bulls manage to hold the gains, it may rebound toward the upper trajectory of $50. Furthermore, the price action suggests that sellers have made aggressive short buildups and are trying to initiate a further down move in the upcoming sessions.
In the past months, Li stock price has gained momentum and climbed new ridges to reach a swing of $47. Afterward, slow and steady Li stock retraced and retested the 20-day EMA spot, but bulls failed to hold the gains, and sellers aggressively laid the stock to the 50-day EMA, showing seller i
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